Overall, AMarkets is considered an average risk, with an overall Trust Score of 72% out of 100. AMarkets is licensed by one Tier-3 Regulator (low trust). AMarkets offers four different retail trading accounts namely a Fixed Account, Standard Account, ECN Account, and RAMM Account to Kenyan traders. Amarkets is currently not regulated by the CMA of Kenya
- Maryke Myburgh
Jump to:
Regulation and Safety of Funds
Account Types and Features
Account Registration
Trading Platforms
Range of Markets
Fees
Deposits and Withdrawals
Education and Research
Affiliate Program
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.1/5
Min Deposit
11,500 KES / $100
Regulators
IFC
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
42
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
AMarkets Review – 23 key points quick overview:
- ✅AMarkets Overview
- ✅AMarkets At a Glance
- ✅AMarkets Regulation and Safety of Funds
- AMarkets Account Types and Features
- AMarkets Account Registration
- AMarkets Vs SuperForex Vs OctaFX – Broker Comparison
- AMarkets Trading Platforms
- Range of Markets
- Broker Comparison for Range of Markets
- AMarkets Trading and Non-Trading Fees
- AMarkets Deposits and Withdrawals
- How to Deposit Funds with AMarkets
- AMarkets Fund Withdrawal Process
- AMarkets Education and Research
- AMarkets Bonuses and Promotions
- How to open an Affiliate Account with AMarkets
- AMarkets Affiliate Program Features
- AMarkets Corporate Social Responsibility
- Verdict on AMarkets
- AMarkets Current Popularity Trends
- AMarkets Pros and Cons
- Frequently Asked Questions
- Conclusion
AMarkets Overview
👉 AMarkets is not regulated or authorized by the Central Markets Authority (CMA) in Kenya and is considered an offshore broker with average risk and a decent trust score.
👉 AMarkets is a worldwide known broker delivering exceptional service since 2007. Over the years, the AMarkets team has produced remarkable accomplishments in the sector, which is validated by a huge number of loyal clients and international accolades.
👉 AMarkets’ purpose is to give customers and partners worldwide the chance to become successful in the financial markets.
👉 This AMarkets review will provide traders with the details that they need to consider whether the broker is suited to their unique trading objectives and needs.
Distribution of Traders
👉 The distribution of traders with AMarkets is as follows:
➡️ Islamic Republic of Iran – 20.1%
➡️ Seychelles – 18.3%
➡️ Germany – 7.6%
➡️ Netherlands – 5.7%
➡️ United States – 5.5%
Popularity among traders who choose AMarkets
🥇 The market share that AMarkets has in Kenya is <5% but the broker is one of the top 100 brokers in the region.
AMarkets At a Glance
| 🏛 Headquartered | Saint Vincent and the Grenadines |
| 🏢 Local Market Regulator in Kenya | Capital Markets Authority (CMA) |
| 📲 Foreign Direct Investment in Kenya | 1.3% of the overall GDP |
| 💰 Foreign Exchange Reserves in Kenya | 8.2 billion USD |
| 💻 Local office in Nairobi? | No |
| ⚖️ Governor of SEC in Kenya | None |
| ✔️ Accepts Kenyan Traders? | Yes |
| 🗓 Year Founded | 2007 |
| 📞 Kenyan Office Contact Number | None |
| 📱 Social Media Platforms | • Facebook • Telegram • YouTube |
| ⚖️ Regulation | Financial Services Authority (FSA) of Saint Vincent and the Grenadines |
| 🪪 Tier-1 Licenses | None |
| 🪪 Tier-2 Licenses | None |
| 🪪 Tier-3 Licenses | • FSA in Saint Vincent and the Grenadines |
| 💳 License Number | • Saint Vincent and the Grenadines – 22567 |
| ⚖️ CMA Regulation | None |
| 🏛 Regional Restrictions | Angola, Armenia, Afghanistan, Benin, Botswana, Burundi, Cape Verde, Cambodia, Chad, Comoros, Ethiopia, Gabon, Gambia, Grenada, Guinea, Guinea-Bissau, Guyana, Haiti, Honduras, Iraq, Jamaica, Japan, Kiribati, Kosovo, Laos, Lesotho, Liberia, Madagascar, Malawi, Maldives, Mauritania, Mongolia, Montenegro, Mozambique, Namibia, Nauru, Nepal, New Zealand, Nicaragua, Niger, North Korea, Palestine, Paraguay, Republic of the Congo, Senegal, Sierra Leone, Somalia, South Sudan, Sudan, Suriname, The United Kingdom, The United States of America, Zambia, Zimbabwe, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Liechtenstein, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland |
| ☪️ Islamic Account | Yes |
| ✔️ Demo Account | Yes |
| 📈 Retail Investor Accounts | 4 |
| 📉 PAMM Accounts | None |
| 📊 Liquidity Providers | Unknown |
| ✔️ Affiliate Program | Yes |
| 📲 Order Execution | Instant and Market |
| 📊 Starting spread | From 0.0 pips, Variable |
| 📈 Minimum Commission per Trade | From $2.5 per standard lot |
| 📉 Decimal Pricing | Up to 5 digits after the comma |
| 📞 Margin Call | 50% |
| 🛑 Stop-Out | 20% – 40% |
| 📉 Minimum Trade Size | 0.01 lots |
| 📈 Maximum Trade Size | Limited to trading account balance |
| 📊 Maximum Lot Size per Trade | None – limited to account balance |
| ✔️ Crypto trading offered? | Yes |
| 💰 Offers a KES Account? | No |
| ✔️ Dedicated Kenyan Account Manager? | No |
| 📲 Maximum Leverage | Up to 1:1000 |
| ❌ Leverage Restrictions for Kenya? | No |
| 💵 Minimum Deposit (KES) | 11,500 KES or an equivalent to $100 |
| ✔️ Kenyan shilling Deposits Allowed? | Yes |
| 📊 Active Kenyan Trader Stats | 70,000+ |
| 👥 Active Kenyan-based AMarkets customers | Unknown |
| 🔁 Kenya Daily Forex Turnover | $100 million+ |
| 💰 Deposit and Withdrawal Options | • Credit Card • Debit Card • Bank Wire Transfer • Cryptocurrency Wallets • Electronic Payment Systems |
| 💳 Minimum Withdrawal Time | Instant |
| 📈 Maximum Estimated Withdrawal Time | 3 to 5 Business Days |
| 💰 Instant Deposits and Instant Withdrawals? | Yes |
| 💳 Segregated Accounts with Kenyan Banks? | No |
| 💻 Trading Platforms | • MetaTrader 4 • MetaTrader 5 • AMarkets Trading App |
| 📱 Tradable Assets | • Forex • Precious Metals • Cryptocurrencies Bonds • Commodities • Indices • Stocks • ETFs |
| 💸 Offers USD/KES currency pair? | No |
| 📊 USD/KES Average Spread | N/A |
| ✔️ Offers Kenyan Stocks and CFDs | None |
| 🗣 Languages supported on the Website | German, Turkish, French, Russian, Spanish, Indonesian, Italian, Vietnamese, Portuguese, Malaysian, Hindi, Korean, Persian, Thai, Arabic, Ukrainian, Chinese |
| 📞 Customer Support Languages | English, Malaysian, Russian, Turkish, Indonesian, Arabic |
| ☎️ Copy Trading Support | Yes |
| ⏰ Customer Service Hours | 24/5 |
| 📞 Kenyan-based customer support? | No |
| 💸 Bonuses and Promotions for Kenyans | Yes |
| 📚 Education for Kenyan beginners | Yes |
| 📱 Proprietary trading software | Yes |
| 🤝 Most Successful Kenyan Trader | Patrick Mahinge (Net Worth – Private) |
| ✔️ Is AMarkets a safe broker for Kenyans? | Yes |
| 📱 Rating for AMarkets Kenya | 6/10 |
| ✔️ Trust score for AMarkets Kenya | 72% |
| 👉 Open An Account | 👉 Open Account |
AMarkets Regulation and Safety of Funds
👉 AMarkets is regulated by Saint Vincent’s Financial Services Authority (FSA), with registration number 22567 IBC 2015. It is important to remember that this does not provide customers with the same level of protection as regulated by other regulatory bodies, such as the FCA, CySEC, or ASIC.
👉 AMarkets asserts that it would keep all customer monies separate from its operational accounts and will spread its assets across reputable worldwide institutions.
👉 They add that the brokerage is a member of the Financial Commission, which resolves disputes between financial market players, and that the Commission’s compensation fund may offer protection for each of its customers up to €20,000 per case.
👉 Verify My Trade (VMT) verifies the quality of AMarkets’ execution and requires that it adhere to the established execution requirements. VMT analyses each customer’s trading history monthly, and each client can see the audit data by clicking on the Verify My Trade Execution Certification link on the official AMarkets website.
AMarkets Account Types and Features
👉 AMarkets offers Kenyan traders a choice between three live trading accounts, and these are:
➡️ Fixed Account
➡️ Standard Account
➡️ ECN Account
➡️ RAMM Account
Live Trading Accounts
Fixed Account
👉 This account’s primary characteristic is that it has a fixed spread. It is a time-honoured option for Kenyans who like to pay a flat rate for each exchange. The account is best suited for position trading strategies.
| Account Feature | Value |
| 💵 Initial Deposit | 11,500 KES or an equivalent to $100 |
| 📊 Leverage Ratios on Forex | • Equity <$10,000 – up to 1:1000 • >$10,000 but <$50,000 – up to 1:500 • >$50,000 but <$100,000 – up to 1:200 • >$100,000 but <$500,000 – up to 1:100 • >$500,000 – 1:50 |
| 💰 Leverage Ratios on Metals | • Equity <$250,000 – 1:200 • >$250,000 – 1:100 |
| 💳 Leverage Ratios on Indices, Commodities and Bonds | • Equity of <$250,000 – 1:100 • $250,000 to $500,000 – 1:50 • >$500,000 – 1:20 |
| 💸 Leverage on BTC/USD | • Equity <$20,000 – 1:10 • >$20,000 but <$50,000 – 1:3 • >$50,000 – 1:1 |
| 💵 Leverage on other Cryptocurrencies | • Equity <$20,000 – 1:5 • >$20,000 – 1:1 |
| 💰 Leverage on Stocks | Maximum 1:10 |
| 📲 Order Execution | Instant or Market |
| 💰 Decimal Pricing | Up to 4 Digits |
| 📈 Order Volume | From 0.01 lots |
| 📊 Average Spreads | Fixed spreads from 3 pips |
| ☪️ Islamic Account Conversion | Yes |
| ⏰ Trading Times | From Monday noon until Friday 11 pm Eastern European Time (EET) |
| 💵 Commission Charges on Trades | None |
| 📱 Margin Required for Hedged Positions | 50% |
| 🛑 Stop-Out Level | 20% |
| 💳 Account Base Currency | USD or EUR |
| 💻 Trading Instruments offered on Account | • 28 Forex Pairs (Major, Minor, Exotic) • 7 Metals • 16 Indices • 11 Commodities • 2 Bonds • 145 Stocks • 20 ETFs • 15 Cryptocurrencies |
| ✔️ Negative Balance Protection | Yes, automatically applied to Retail Accounts |
Standard Account
👉 This is an excellent option for both new and seasoned traders. In the case of metals and currencies, this account type offers a variable spread and no transaction fees, while still offering most of the features of a professional ECN account.
👉 There are two types of execution available for this sort of account namely Instant and Market execution. The features on this account are as follows:
| Account Feature | Value |
| 💵 Initial Deposit | 11,500 KES or an equivalent to $100 |
| 📊 Leverage Ratios on Forex | • Equity <$10,000 – up to 1:1000 • >$10,000 but <$50,000 – up to 1:500 • >$50,000 but <$100,000 – up to 1:200 • >$100,000 but <$500,000 – up to 1:100 • >$500,000 – 1:50 |
| 💰 Leverage Ratios on Metals | • Equity <$250,000 – 1:200 • >$250,000 – 1:100 |
| 💳 Leverage Ratios on Indices, Commodities and Bonds | • Equity <$250,000 – 1:200 • >$250,000 – 1:100 |
| 💸 Leverage on BTC/USD | • Equity of <$250,000 – 1:100 • $250,000 to $500,000 – 1:50 • >$500,000 – 1:20 |
| 💵 Leverage on other Cryptocurrencies | • Equity <$20,000 – 1:10 • >$20,000 but <$50,000 – 1:3 • >$50,000 – 1:1 |
| 💰 Leverage on Stocks | Maximum 1:10 |
| 📲 Order Execution | Instant or Market |
| 💰 Decimal Pricing | Up to 5 Digits |
| 📈 Order Volume | From 0.01 lots |
| 📊 Average Spreads | Variable, from 1.3 pips |
| ☪️ Islamic Account Conversion | Yes |
| ⏰ Trading Times | From Monday noon until Friday 11 pm Eastern European Time (EET) |
| 💵 Commission Charges on Trades | None |
| 📱 Margin Required for Hedged Positions | 50% |
| 🛑 Stop-Out Level | 20% |
| 💳 Account Base Currency | USD or EUR |
| 💻 Trading Instruments offered on Account | • 42 Forex Pairs (Major, Minor, Exotic) • 7 Metals • 16 Indices • 11 Commodities • 2 Bonds • 145 Stocks • 20 ETFs • 15 Cryptocurrencies |
| ✔️ Negative Balance Protection | Yes, automatically applied to Retail Accounts |
ECN Account
👉 Every order placed on an ECN account is processed directly with the Prime broker. Orders of any size may be executed instantly since liquidity is gathered from the top-tier Liquidity Providers and consolidated.
👉 The account, which requires a minimum deposit of $200 (23,000 KES), is also suitable for scalping and offers the quickest order execution speed available.
| Account Feature | Value |
| 💵 Initial Deposit | 23,000 KES or an equivalent to $200 |
| 📊 Leverage Ratios on Forex | • Equity <$10,000 – up to 1:200 • >$10,000 but <$50,000 – up to 1: 200 • >$50,000 but <$100,000 – up to 1:200 • >$100,000 but <$500,000 – up to 1:100 • >$500,000 – 1:50 |
| 💰 Leverage Ratios on Metals | • Equity <$250,000 – 1:200 • >$250,000 – 1:100 |
| 💳 Leverage Ratios on Indices, Commodities and Bonds | • Equity of <$250,000 – 1:100 • $250,000 to $500,000 – 1:50 • >$500,000 – 1:20 |
| 💸 Leverage on BTC/USD | • Equity <$20,000 – 1:10 • >$20,000 but <$50,000 – 1:3 • >$50,000 – 1:1 |
| 💵 Leverage on other Cryptocurrencies | • Equity <$20,000 – 1:5 • >$20,000 – 1:1 |
| 💰 Leverage on Stocks | Maximum 1:10 |
| 📲 Order Execution | Market |
| 💰 Decimal Pricing | Up to 5 Digits |
| 📈 Order Volume | From 0.01 lots |
| 📊 Average Spreads | Floating, from 0.0 pips |
| ☪️ Islamic Account Conversion | Yes |
| ⏰ Trading Times | From Monday noon until Friday 11 pm Eastern European Time (EET) |
| 💵 Commission Charges on Trades | $2.5 or €2.5 per 1 standard lot |
| 📱 Margin Required for Hedged Positions | 50% |
| 🛑 Stop-Out Level | 40% |
| 💳 Account Base Currency | USD or EUR |
| 💻 Trading Instruments offered on Account | • 42 Forex Pairs (Major, Minor, Exotic) • 7 Metals • 16 Indices • 11 Commodities • 2 Bonds • 145 Stocks • 20 ETFs • 15 Cryptocurrencies |
| ✔️ Negative Balance Protection | Yes, automatically applied to Retail Accounts |
RAMM Account
👉 You do not need to be an expert in trading to participate in CFD and forex trading. All you need to do is identify successful traders and replicate their deals.
👉 The copy trading platform is intuitive and simple to use. By replicating a strategy, you will get the identical trading circumstances as the account type used to build the strategy.
| Account Feature | Value |
| 💵 Initial Deposit | 11,500 KES or an equivalent to $100 |
| 📊 Leverage Ratios on Forex | Maximum 1:200 |
| 💰 Leverage Ratios on Metals | Market Execution |
| 💳 Leverage Ratios on Indices, Commodities and Bonds | Netting |
| 💸 Leverage on BTC/USD | From 0.0001 lots |
| 💵 Leverage on other Cryptocurrencies | From Monday 12 am until Friday 11 pm Eastern European Time (EET) |
| 💰 Leverage on Stocks | Maximum 1:10 |
| 📲 Order Execution | Market |
| 💰 Decimal Pricing | Up to 5 Digits |
| 📈 Order Volume | From 0.01 lots |
| 📊 Average Spreads | Floating, from 0.0 pips |
| ☪️ Islamic Account Conversion | Yes |
| ⏰ Trading Times | From Monday 12 am until Friday 11 pm Eastern European Time (EET) |
| 💵 Commission Charges on Trades | $2.5 or €2.5 per 1 standard lot |
| 📱 Margin Required for Hedged Positions | 50% |
| 🛑 Stop-Out Level | 20% |
| 💳 Account Base Currency | USD |
| 💻 Trading Instruments offered on Account | • 42 Forex Pairs (Major, Minor, Exotic) • 7 Metals • 16 Indices • 11 Commodities • 2 Bonds • 144 Stocks |
| ✔️ Negative Balance Protection | Yes, automatically applied to Retail Accounts |
Demo Account
👉 A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital.
👉 There is a certain degree of risk involved when trading financial markets and AMarkets offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.
👉 AMarkets offers a demo account that can be registered and used by both beginner traders who need to practice trading and professionals who want to test their trading strategies.
Islamic Account
👉 Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.
👉 This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.
👉 AMarkets offers Muslim traders in Kenya the chance to convert all accounts, except the PAMM account, into a Swap-Free Account.
AMarkets Account Registration
To start trading with AMarkets, just fill out the short account opening form on the website and agree to the terms and conditions of the firm. You will then be asked to verify your personal information by a member of the account team before your account can be validated.
Your brokerage account may be funded, and you can start trading online after verification.
Step 1 – Navigate to the demo account registration portal.
Similar to a bank, if you want to register a forex trading account with AMarkets for the first time, you will be required to go through a basic “know your customer” process.
Step 2 – Provide required information.
This will allow AMarkets to make sure that your submitted personal details are correct and the safety of your funds and your account details are ensured.
Step 3 – You will be directed to your new account.
After the initial registration you will normally be emailed your login details that will correspond to a login on a trading platform matching your type of account.
Overall Rating
- 4.1/5
Min Deposit
11,500 KES / $100
Regulators
IFC
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
42
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
AMarkets Vs SuperForex Vs OctaFX – Broker Comparison
| 🥇 AMarkets | 🥈 SuperForex | 🥉 OctaFX | |
| ⚖️ Regulation | SVG FSA | None | CySEC, SVG FSA |
| 📱 Trading Platform | • MetaTrader 4 • MetaTrader 5 • AMarkets Trading App | • MetaTrader 4 • SuperForex App | • MetaTrader 4 • MetaTrader 5 • OctaFX App |
| 💰 Withdrawal Fee | Yes | Yes | No |
| 📈 Demo Account | Yes | Yes | Yes |
| 📊 Min Deposit | 11,500 KES | 400 KES | 41,500 KES |
| 💰 Leverage | 1:1000 | 1:2000 | 1:500 |
| 💳 Spread | From 0.0 pips | From 0.0 pips | 0.6 pips |
| ✴️ Commissions | $2.5 per lot | From 0.013% | None |
| 💳 Margin Call/Stop-Out | • 50% • 20% to 40% | 30% and 40% | 25%/15% |
| 📊 Order Execution | Market, Instant | Market, Instant | Market |
| 💰 No-Deposit Bonus | No | Yes | Yes |
| 💰 Cent Accounts | No | Yes | No |
| 📊 Account Types | • Fixed Account • Standard Account • ECN Account • RAMM Account | • Standard Account • Swap-Free Account • No Spread Account • Micro Cent Account • Profi STP Account • Crypto Account • ECN Standard Account • ECN Standard Mini Account • ECN Swap-Free Account • ECN Swap-Free Mini Account • ECN Crypto Account | • MetaTrader 4 Habitual Trader • MetaTrader 5 Smart Trader |
| ⚖️ CMA Regulation | No | No | No |
| 💵 KES Deposits | Yes | Yes | No |
| 💳 Kenyan shilling Account | No | Yes | No |
| 👥 Customer Service Hours | 24/5 | 24/5 | 24/5 |
| 🛍 Retail Investor Accounts | 4 | 11 | 2 |
| ☪️ Islamic Account | Yes | Yes | Yes |
| 📉 Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
| 📈 Maximum Trade Size | Depends on the Account Balance | None | 500 lots |
| 💵 Minimum Withdrawal Time | Instant | 1 Hour | 1 Hour |
| ⏰ Maximum Estimated Withdrawal Time | 3 to 5 Business Days | 4 Business days | 1 Hour |
| 💰 Instant Deposits and Instant Withdrawals? | Yes | No | No |
AMarkets Trading Platforms
👉 AMarkets offers Kenyan traders a choice between these trading platforms:
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ AMarkets Trading App
Desktop Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
MetaTrader 4 and 5
👉 AMarkets provides a choice between MetaTrader 4 and MetaTrader 5 platforms across several devices, including desktop computers. MetaTrader is the most popular trading platform for most CFD and Forex online brokers and traders of all skill levels.
👉 MetaTrader 4 and 5 are popular among analysts because of an easy-to-use interface, low learning curve, and extensive charting features. MT5 is a multi-asset platform with the latest features. MT5 keeps the basic features and functionality of MT4 while adding additional features and functionality.
WebTrader Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
MetaTrader 4 and 5
👉 With only a few clicks, you may begin trading on the MetaTrader 4 Web platform from your preferred browser. Kenyan traders can use any given internet browser and operating system, and all that they require is an Internet connection to get started.
👉 If installing a desktop platform or a mobile application is not an option, the MetaTrader 5 Web Platform is the ideal choice for every trader.
👉 With a single click from a chart or Market Depth, you may place any sort of market and pending order, trade currencies, stocks, and futures, and conduct extensive market research using 30 technical indicators and 24 graphical objects.
Trading App
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ AMarkets Trading App
MetaTrader 4 and 5
👉 Trading on financial markets is possible using the MetaTrader 4 and 5 mobile apps, which are available for iOS and Android-powered smartphones and tablets. The MetaTrader 4 and 5 Mobile Trading Platform is very identical to the desktop versions of these platforms.
👉 MetaTrader 4 and 5 Mobile is compatible with all mobile devices, including smartphones and tablets, as well as Android and iOS. When required, MetaTrader 4/5 Mobile enables a trader to abandon their permanent workstation.
👉 In addition, these mobile apps also provide total account management and support all order types and execution techniques.
AMarkets Trading App
👉 Lastly, AMarkets offers a proprietary trading app that offers Kenyans access to the full range of financial markets offered. In addition, Kenyans can also access a range of trading and investing ideas, view real-time quotes, access live and demo trading, and verify their trading account.
Range of Markets
👉 Kenyan traders can expect the following range of markets from AMarkets:
➡️ 42 Forex Pairs (Major, Minor, Exotic)
➡️ 7 Metals
➡️ 16 Indices
➡️ 11 Commodities
➡️ 2 Bonds
➡️ 145 Stocks
➡️ 20 ETFs
➡️ 15 Cryptocurrencies
Broker Comparison for Range of Markets
| 🥇 AMarkets | 🥈 SuperForex | 🥉 OctaFX | |
| ➡️ Forex | Yes | Yes | Yes |
| ➡️ Precious Metals | Yes | Yes | Yes |
| ➡️ ETFs | No | Yes | No |
| ➡️ CFDs | Yes | Yes | Yes |
| ➡️ Indices | Yes | Yes | Yes |
| ➡️ Stocks | Yes | Yes | No |
| ➡️ Cryptocurrency | Yes | Yes | Yes |
| ➡️ Options | No | No | No |
| ➡️ Energies | Yes | Yes | Yes |
| ➡️ Bonds | Yes | No | No |
AMarkets Trading and Non-Trading Fees
Spreads
👉 AMarkets offers both Fixed and Variable spreads to Kenyan traders, something that is uncommon among forex and CFD brokers. The spreads that Kenyans can expect will depend on their trading account, the instrument that they are trading, and the overall market conditions on the trading day (for variable spreads).
👉 The average starting spreads that Kenyans can expect are:
➡️ Fixed Account – From 3 pips, Fixed Spread
➡️ Standard Account – From 1.3 pips, Variable Spreads
➡️ ECN Account – From 0.0 pips, Variable Spreads
Commissions
👉 Commissions are only charged when Kenyans use the ECN Account. These commissions serve as the broker fee for facilitating the trade and it offsets the tight zero-pip spreads offered. When using the ECN Account, Kenyan traders can expect commissions from $2.5 per standard lot, or an equivalent in EUR.
Overnight Fees, Rollovers, or Swaps
👉 Overnight fees are either credited or charged depending on the position that Kenyans hold open for longer than 24 hours. Some of the typical overnight fees that can be expected include:
➡️ EUR/USD – a short swap of 0.7344 pips and a long swap of -5.2353 pips
➡️ XAG/USD – a short swap of -0.893 pips and a long swap of -1.186 pips
➡️ XAU/USD – a short swap of -4.55065 and a long swap of -12.5604
➡️ Cryptocurrencies – a short swap of -20% and a long swap of 20%
➡️ Stocks – a short swap of -2.5% and a long swap of -2.5%
Deposit and Withdrawal Fees
👉 AMarkets does not apply any fees to deposits but the following withdrawal fees are charged:
➡️ Debit and Credit Card – 2.5%
➡️ Bank Wire Transfer – a minimum of $30
➡️ Tether (USDT TRC-20) – 0.5% + 1 USD
➡️ Tether (USDT ERC-20) – 0.5% + 20 USD
➡️ Bitcoin – 0.0004 BTC
➡️ Litecoin – 0.002 LTC
➡️ Ethereum – 0.005 ETH
➡️ ADVCash – 0.5%
➡️ Skrill – 1%
➡️ WebMoney – 0.8% at a maximum of 50 USD
➡️ Fasapay – 0.5%
➡️ Perfectmoney – 0.5%
➡️ Neteller – 2% with a minimum of 1 USD and a maximum of 30 USD
➡️ TopChange – 2%
Overall Rating
- 4.1/5
Min Deposit
11,500 KES / $100
Regulators
IFC
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
42
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
AMarkets Deposits and Withdrawals
👉 AMarkets offers the following deposit and withdrawal methods:
➡️ Debit Card
➡️ Credit Card
➡️ Bank Wire Transfer
➡️ Cryptocurrency Wallets (USDT, BTC, LTC, ETH)
➡️ ADVCash
➡️ Skrill
➡️ WebMoney
➡️ FasaPay
➡️ Perfectmoney
➡️ Neteller
➡️ TopChange
How to Deposit Funds with AMarkets
👉 Kenyan traders may deposit money to their AMarkets account using any of the following methods:
➡️ Use the AMarkets iOS or Android app
➡️ Access the Personal Area on the AMarkets site
👉 Navigate to the “Deposit” option, choose your chosen deposit method, specify the amount you intend to deposit in currency and complete any extra steps that could be necessary by the payment provider after you have signed into either of these platforms.
Step 1 – Log into your account.
Login to your account and select “Deposit”.
Step 2 – Select deposit method
Select the deposit method and fill in your transaction details and confirm your deposit.
AMarkets Fund Withdrawal Process
👉 Kenyan traders using AMarkets may choose between two methods for withdrawing funds:
➡️ Go to the AMarkets website and log in to your personal account
➡️ Download the AMarkets app for iOS or Android
👉 Kenyans can access the “Withdrawal” section after logging in to either site, choose their preferred withdrawal method, enter the desired withdrawal amount (keeping in mind the minimum and maximum amounts allowed) and currency, and complete any additional steps required by the payment service provider.
👉 Kenyan traders must remember to verify and authenticate their payment details before requesting a withdrawal. Kenyans can submit their verification documents and learn more about the verification standards within the Verification section.
AMarkets Education and Research
👉 AMarkets offers the following Educational Materials:
➡️ FAQ
➡️ Blog
👉 AMarkets offers Kenyan traders the following Research and Trading Tools:
➡️ Analytics
➡️ Trading Tools
➡️ Information
➡️ Forex News
➡️ Technical Analysis
➡️ VPS Hosting
➡️ AutoChartist
➡️ Economic Calendar
➡️ Trading Calculators
➡️ Market Sentiment Indicators
➡️ Expert Advisors
➡️ Trades of the week
➡️ Trading Ideas
AMarkets Bonuses and Promotions
👉 AMarkets offers Kenyan traders the following bonuses and promotions:
➡️ Cashback for loyal customers with high trading volumes
➡️ Traders who switch from another broker can get a 20% bonus on their deposit
➡️ Double deposit bonus
➡️ Demo account promotion where traders can earn real cash from profits made in demo mode
➡️ A 20% trading bonus when transferring an affiliate reward to an active trading account
➡️ Referral bonus
➡️ Deposit commission bonus where AMarkets reimburses any deposit fees that Kenyan traders may face
How to open an Affiliate Account with AMarkets
👉 For Kenyans who want to work with AMarkets, the broker’s official website has a simple registration process. Kenyans can easily choose the sort of affiliate program they want to participate in and immediately begin introducing customers to AMarkets, allowing them to reap the rewards.
AMarkets Affiliate Program Features
👉 Affiliate programs in Kenya include the following:
➡️ Webmaster provides set pay-outs in two stages, with eligible registration and subsequently a fully funded account.
➡️ Agents get paid fees depending on the volume of their referrals’ trades regardless of their trading results.
👉 As of this writing, more than 3,000 Affiliates from across the world have been working with AMarkets, and the broker has already paid out $30,000,000 in commissions to those Affiliates.
👉 Some advantages of the AMarkets affiliate program include:
➡️ High remuneration rates
➡️ Frequent reliable pay-outs
➡️ Monthly bonuses to the most active affiliates
➡️ The provision of marketing tools
➡️ Exclusive promo materials
➡️ An innovative referral system
➡️ User-friendly and modern Personal Area
AMarkets Corporate Social Responsibility
👉 AMarkets does not currently offer any information on its Corporate Social Responsibility.
Verdict on AMarkets
👉 AMarkets provides Standard and ECN accounts on the MetaTrader 4 and MetaTrader 5 platforms, as well as extra tools and copy trading. Additionally, there are a variety of convenient deposit and withdrawal options, as well as a demo account suitable for both novice and experienced traders.
👉 The primary disadvantage is that the broker is regulated offshore by a Tier-3 Regulator, which may not give appropriate safeguards in comparison to other brokers.
Overall Rating
- 4.1/5
Min Deposit
11,500 KES / $100
Regulators
IFC
Trading Desk
MetaTrader 4
Crypto
Yes
Total Pairs
42
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
AMarkets Pros and Cons
| ✔️ Pros | ❌ Cons |
| AMarkets offers Copytrading to social traders | AMarkets only has Tier-3 Regulation, which is not as prominent as other Tiers |
| There is an innovative mobile app offered | Many countries are restricted from service |
| There is a choice between flexible payment methods for deposits and withdrawals | The spreads offered are not the tightest |
| There are a plethora of trading tools offered to more experienced Kenyan traders | There is no KES-denominated trading account offered to Kenyans |
| Kenyan traders can deposit funds in KES | |
| VPS Hosting is supported | |
| AMarkets offers a choice between retail trading accounts | |
| There are commission-free options offered to Kenyan traders | |
| There are both fixed and variable spreads offered |
Frequently Asked Questions
Is AMarkets regulated and by whom?
Yes, AMarkets is regulated and authorized by the Financial Services Authority (FSA) in Saint Vincent and the Grenadines, a Tier-3 regulator that is not as strict as other market regulators.
Is AMarkets a fake or a scam broker?
Despite its poor trust ratings, AMarkets is neither a rip-off nor a hoax. The Financial Commission has created a compensation fund for AMarkets’ customers that may compensate up to 20 000 EUR for every dispute between financial market participants.
Which trading platforms are supported by AMarkets?
AMarkets supports the following trading platforms:
- MetaTrader 4
- MetaTrader 5
- AMarkets Trading App
Is there an Islamic Account for Muslim Traders in Kenya?
Yes, there is the option for a Swap-Free Account conversion when Muslims register and verify their live trading account.
Does AMarkets offer leverage and what is the maximum leverage ratio offered?
Yes. However, the highest leverage offered by AMarkets depends on the trader’s equity amount in the account. Kenyan forex traders with equity of less than $10,000 may get maximum leverage of 1:1,000 on the foreign exchange market.
What is the overall rating for AMarkets?
AMarkets has a score of 6/10 because of its Tier-3 regulatory position, lack of training materials, and restricted number of markets to trade. AMarkets gives Kenyan traders of various skill levels a variety of account options, including social trading.
Is AMarkets suitable for both beginner and professional traders?
AMarkets offers user-friendly solutions but the lack of educational materials could make it difficult for beginners to get started with the broker, making it more suitable for advanced forex and CFD Kenyan traders.
Conclusion
👉 Now it is your turn to participate:
➡️ Do you have any prior experience with AMarkets?
➡️ What was the determining factor in your decision to engage with AMarkets?
➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?
➡️ Have you experienced any issues with AMarkets such as difficulty withdrawing funds, inability to verify regulation, irresponsive customer support, etc.?
👉 Regardless, please share your thoughts in the comments below.
Addendum/Disclosure:
👉 No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.
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